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RE: The NFT Bubble

in LeoFinance3 years ago

The biggest challenge and limitation with NFTs is that none of the existing solutions store the images/graphics in an immutable fashion.

The second is that there no way to ensure the uniqueness - its possible to create 2 NFTs pointing to the same URL, ie google.com/dog.PNG

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I have seen NFT's storing their images on IPFS but I don't see how that secures the image as unique either. Perhaps if the file was locked and can only be accessed with the private key of the wallet that would make it a little bit more secure.

Perhaps if you owned the NFT others could get access to view it and pay a small fee, then i could see why its an asset since it brings you income.

Posted Using LeoFinance Beta

Perhaps if you owned the NFT others could get access to view it and pay a small fee, then i could see why its an asset since it brings you income.

This is a good idea.

The idea of "dynamic NFTs" where which seems to be already in works by chainlink is a good approach too.

Could you share a link I can read up about it?

Posted Using LeoFinance Beta

There you go : https://data.chain.link/link-usd

Essentially, if we have on-chain NFTs (ie pure tokens or smart contracts as opposed to what Hive has/doesn't have), then its just about extending the meta-data and then responding to the external changes via an oracle.